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CVS Caremark 2Q revenues reach $21.1 billion

BY CSA STAFF

WOONSOCKET, R.I. CVS Caremark today reported that net revenues for the second quarter ended June 28, increased $437 million to $21.1 billion, up from $20.7 billion during the second quarter ended June 30, 2007.

Pharmacy same-store sales rose 3.7% and were negatively impacted by approximately 280 basis points due to recent generic introductions, while front-end same store sales increased 1.8%.

Tom Ryan, Chairman, president and ceo of CVS Caremark said, “This was another quarter of strong financial performance across our businesses. We delivered solid improvement in sales and gross margins and continued to exercise disciplined expense control. That enabled us to hit a record operating profit margin this quarter.”

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Spartan Stores 1Q sales up 12.8%

BY CSA STAFF

GRAND RAPIDS, Mich. Spartan Stores reported that net sales for the first quarter increased 12.8% to $586.7 million from $520.2 million in last year’s first quarter.

Net earnings for the quarter increased 52.2% to $9.9 million, or 46 cents per diluted share, from $6.5 million, or 30 cents per diluted share, in the same period last year.

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Fresh & Easy opens 20th store in Phoenix

BY CSA STAFF

PHOENIX Fresh & Easy Neighborhood Market has opened its 20th store in Phoenix, bringing its total number of U.S. stores to 67.

Fresh & Easy also announced four upcoming store openings in the Phoenix area, including the grocer’s first in Tempe, Ariz.

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